Posts Tagged ‘SEC’
JEDDAH: Banque Saudi Fransi (BSF) and National Commercial Bank (NCB), both mandated lead arrangers, concluded the signing of a SR2.145 billion contract financing facility on Tuesday for Arabian Bemco Contracting Company Ltd., a lead regional engineering contractor for building power plants and industrial and infrastructure projects.
The NCB is also acting as the issuing bank, facility agent and security agent.
BURAIDAH: Power shortages in parts of Saudi Arabia will become a thing of the past if the ongoing plan of Saudi Electricity Company (SEC) is any indication.
We plan to invest $10 billion in the next 10 years, which will take care of power needs in all parts of the Kingdom, SEC President and CEO Ali Saleh Al-Barrak told Arab News on the sidelines of a signing ceremony to award SR1.08 billion contract to Arabian Bemco Contracting Co. to expand the Qassim Power Plant. The 10-year-plan will add 25,000 MW to the Kingdoms generation capacity. 40,000 MW power is currently being produced in different parts of the Kingdom.
Demand for power is growing in the Qassim region, which experienced disruptions, according to some residents. It is predominantly an agricultural region with its fertile soil and plentiful water in the central part of the Kingdom, about 300 km north of Riyadh.
JEDDAH – Last months floods created scattered electrical power outages in different parts of the city with the collapse of 2,140 transformers, leaving at least 166,000 electricity subscribers in the dark, although most were reconnected in less than 24 hours, an official said.
Even in hard-to-reach areas surrounded by floodwaters, the electric power was quickly reconnected.
JEDDAH – Saudi Electricity Company (SEC) said on Monday that it has received bids from five consortiums to build, own and operate a 2,000 megawatt (MW) power plant in Riyadh.
The combined cycle plant, known as PP11, will boost power supply to the capital of the worlds top oil exporter and forms part of the utilitys $20 billion plan to add at least 10,000 MW capacity through six independent power producer (IPP) projects.
SEC also has plans to spend $80 billion adding a total of 20,000 MW through 2018. SECs capacity is around 40,000 MW.
JEDDAH: Jazan Economic City (JEC), one of the lynchpins of Custodian of the Two Holy Mosques King Abdullahs vision to diversify the Kingdoms economy, has begun major construction work at the site.
There is a huge response from investors for JEC projects. JEC has signed deals worth SR100 billion since its launch in 2006. JEC is attracting major investments from the Far East, especially China, said Zaidan Mohamed O. Yousef, chief executive officer of MMC Saudi Arabia Co. Ltd., the master developer.
JEC is located 60 km north of Jazan city, occupies an area of 113 square kilometers and stretches for 12 km along the Red Sea Coast. It is anticipated that upon completion of infrastructure, JEC will attract $30 billion of industrial, commercial and residential investments creating 500,000 direct and indirect job opportunities.
JEDDAH/MAKKAH: People continued to suffer power outages in large areas of Jeddah after the fatal rains on Wednesday flooded the city.
Sarah could not put her three little children to sleep due to a power cut in her apartment that started at 2 a.m. on Wednesday. Her family had to spend the entire day without electricity. They got the power back at 12:20 a.m. on Thursday only after her husband made a scene with an electrician who works for the Saudi Electricity Company (SEC).
My husband went down to the SEC station. Weve been calling them all day, but no ones doing anything to solve the problem, said Sarah.
JEDDAH: At least 24 people were reportedly killed and several injured in flash floods in Jeddah on Wednesday. Hundreds of homes and shops were flooded as streets turned into raging rivers.
Altogether, some 70 millimeters of rain fell over the city in less than two hours more than two-thirds of the Kingdoms annual average rainfall.
Jeddah Gov. Prince Mishaal bin Majed ordered an emergency control room to be set up to monitor the situation every 12 hours.
AL-KHOBAR – Bidders for the contract to build the Rabigh power station for Saudi Electricity Co (SEC) have asked for more time to prepare proposals, sources at contracting firms said on Tuesday.
The SEC has already extended the bidding deadline to Dec. 15 from the initial July 13 deadline at the behest of bidders.
AL-KHOBAR – State-run Saudi Electricity Company (SEC) has set Dec. 20 as a new deadline for bids to build a $2-2.5 billion power plant in Riyadh, a company executive said on Saturday.
The deadline was extended due to technical issues, Amer Al-Swaha, head of the independent power producer (IPP) at SEC said. The initial deadline for the 2,000-megawatt power plant project in Riyadh was Dec. 7
“The reason was the preparation of technical information, such as site survey, it took us more time than we expected. There is no other reason,” he said.
RIYADH: Custodian of the Two Holy Mosques King Abdullah on Monday reshuffled the Supreme Economic Council (SEC) inducting Foreign Minister Prince Saud Al-Faisal and Prince Muhammad bin Naif, assistant interior minister for security affairs, to the apex body.
The king also reconstituted the SECs permanent committee, making Prince Saud its new chairman and Prince Muhammad its member. Labor Minister Ghazi Al-Gosaibi, Petroleum and Mineral Resources Minister Ali Al-Naimi, and Finance Minister Ibrahim Al-Assaf are other prominent members.